France to lend Philippines P14 billion for disaster response

France has committed to lend the Philippines the equivalent of P14 billion to support and build up disaster risk reduction efforts at the local level, the Department of Finance said.

In a statement, the DOF said that it signed a €250-million policy-based loan with the Agence Française de Développement (AFD), with the funds aimed at scaling up local governments' disaster risk management capabilities. 

"The Disaster Risk Reduction Enhancement at the Local Level Programme seeks to support LGUs in a sustainable trajectory, as well as build the resilience of local economies and communities," the DOF said.

The funds will "support the Department of the Interior and Local Government (DILG) in the process of decentralizing the mandate and services for disaster risk reduction and climate change management to the Local Government Units (LGUs). It will not only help build the capacity of the LGUs but also support ongoing reform programs throughout the country, taking into account the demands of the 'new normal' that seeks to address public health emergency concerns, as demonstrated by the COVID-19 experience," the DOF added.

The AFD, a French public financial agency that funds and supports development, climate and sustainability programs overseas, said that the loan is the result of a long-time partnership with the DILG. 

"It aims to further develop our cooperation on disaster risk management and climate change adaptation capacity for a period of three years. It is also in line with France's commitment to support climate action under the Paris Agreement, in order to help the Philippine Government meet the ambitious targets it set for itself when it submitted its Nationally Determined Contribution (NDC) to the UNFCCC earlier this year,” said AFD Country Director Laurent Klein.

The news came after Typhoon Odette swept through parts of Visayas and Mindanao, leaving at least 375 dead by the PNP's latest count and towns flattened.

The Philippines is one of the nations hardest hit by natural calamities brought about by climate change. — BM, GMA News